Private land not formally protected under the national system could be counted as part of Australia's conservation target under a proposal being considered by the Labor government.
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The government is seeking feedback on policy to count "other effective area-based conservation measures" in Australia's target for 30 per cent of land and 30 per cent of oceans protected by 2030.
The land would be required to have important biodiversity values that could be documented during an assessment and the land manager must have the capacity to protect them in the long term.
An area that met the conservation standard could be issued a biodiversity certificate to be sold to private companies, under Labor's nature repair market legislation being introduced to Parliament this year.
Other effective area-based conservation measures would be counted alongside the 22 per cent of Australia's landmass currently in formally designated protected areas, including national parks and Indigenous protected areas.
Environment Minister Tanya Plibersek said Australia was on its way to meet the 2030 target, however, the protection or conservation of another 60 million hectares of land was required.
Ms Plibersek said that meant protecting an additional area roughly nine times the size of Tasmania.
"We need every tool in the box to protect our precious environment for our kids and grandkids," she said.
"High quality conservation areas or other effective area-based conservation can help us get there."
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Environment ministers from all jurisdictions agreed to work collectively to develop a national framework to recognise non-formally protected land in October last year.
The other effective area-based conservation measures would initially apply to land only, with potential to recognise marine areas in the future.
Opting in will be voluntary for land managers and conservation could occur as a primary or secondary objective, or as a result of long-term management activities.
A site under ecological restoration could be considered only when it began delivering demonstrable and significant biodiversity outcomes.
Australia will not be the first country to consider the new measures to meet their conservation targets, with Canada, the European Union, South Africa and Colombia all actively considering "other effective area-based conservation measures", the government says.
The Department of Climate Change, Energy, the Environment and Water released its consultation paper asking for input on how the new measures will be recognised in Australia on Thursday.
Consultation will be undertaken on implementation issues over the coming months, including consideration of the initial site assessment process, reporting statistics domestically and internationally, and monitoring and compliance requirements.